news 
FTX Announces Effective Date For Chapter 11 Reorganization Plan: January 3, 2025
FTX has announced the effective date for its chapter 11 reorganization plan, signaling a crucial step forward in the distribution process. As part of this development, FTX has partnered with leading crypto companies BitGo and Kraken to facilitate the distribution of recoveries.
The recently filed agreement highlights a significant milestone in the ongoing bankruptcy proceedings. By partnering with reputable firms like BitGo and Kraken, FTX aims to ensure a seamless and efficient distribution process for both retail and institutional clients affected by its collapse.
As reported earlier, this partnership will enable the recovery distribution to all supported jurisdictions. In accordance with the reorganization plan, transferred claims distributions will be made only to transferee holders of allowed claims that have been processed and recorded in the official register of claims maintained by the Notice and Claims Agent as of the January 3, 2025 record date.
Furthermore, any objections must lapse within a 21-day notice period before the distribution is executed.
Source: bitcoinist.com
